Investment guru Robert Kiyosaki recently tweeted that he believes there are a number of reasons that resulted in the drop in Bitcoin cryptocurrency to below $7,000 a Bitcoin a few days ago. One of the reasons, says the best-selling author, is the oil price crash—on Monday the price of WTI oil futures for May collapsed below the zero mark but then a recovery followed.
As CZ of Binance tweeted, one Bitcoin was enough to buy almost 70,000 barrels of oil.
Kiyosaki also names the current liquidity injection policy conducted by the Federal Reserve, which he believes has partly led to retail investors spending their stimulus checks on Bitcoin.
Robert Kiyosaki says it is not only Bitcoin, but gold and silver—his favorite assets—that are also falling in price because they are being bought and sold for ‘fake USD’ people have received from the US printing press. He also recommends buying physical gold, silver and pure Bitcoin, not financial products based on them, such as futures or ETFs.